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Tuesday, March 17, 2009

AIG Execs Deserved Their Bonuses

Despite the anger many people - including President Obama - feel over AIG giving out $156 million in bonuses, I have to say they earned it, as I've said before.   After all, they convinced Congress to give them $170 billion in bailout funds. 

So long as our government is making lobbying for bailouts a profitable business model, executives who do so succesfully should be rewarded.

3 comments:

Anonymous said...

Why should we expect the hogs at the trough to suddenly put themselves on a diet? Why continue giving money with no rules, expecting executives to do the "right" thing? Hello! Why not a grant process when companies want money, complete with plans of exactly how the funds will be used, up front?

RB said...

http://hotair.com/archives/2009/03/17/the-futile-arrogance-of-aig-outrage/

Nathan Benefield said...

The always hilarious satirist Scott Ott writes:

"When I said AIG bonuses reward incompetence, it suddenly occurred to me that these bailouts do the same thing," said Rep. Frank. "Instead of giving hundreds of billions to the likes of AIG and to people who bought too much house, we're going to invest in companies and individuals who have managed their money well. From now on, we are going to reward competence."